LOS ANGELES, Oct. 11, 2017 /PRNewswire/ -- FastPay, the pre-eminent financial technology company providing capital and payments solutions to digital businesses, today announced it has acquired AnchorOps, the leading provider of electronic payment solutions for media buyers. Combining FastPay's focus on lending to media sellers and AnchorOps' proficiency in payments and reconciliation for media buyers creates a unified platform that reduces friction and improves efficiency for the entire $600B global advertising industry, from invoicing to payment disbursement.
Jed Simon, CEO/Founder of FastPay states, "We've been impressed with the AnchorOps team for years - they've built a fantastic suite of products with exceptional focus on serving customers. Our companies share similar values, and we're excited to provide the industry with a single platform to address the full spectrum of customer needs."
Founded in 2012, AnchorOps has the only electronic payment solution designed and optimized exclusively for the media industry. Their rapid growth and market dominance is attributable to their vertical expertise, extensive software solutions, proprietary data, and unparalleled client service. Integrating AnchorOps with FastPay's industry-leading technology, analytics, and credit capabilities will fulfill the financial needs of the advertising ecosystem.
David Frogel, President and Founder of AnchorOps, will join the FastPay team as Chief Revenue Officer. Frogel said, "We're thrilled to join the FastPay team. We share a unified vision of streamlining our industry's financial workflow to create the premier fintech company for our industry."
This merger will create an integrated working capital solution designed to streamline customers' financial operations and fuel their growth. The combined company has over 100 employees with five offices globally.
FastPay is a financial technology platform providing credit and payment solutions to digital industries. Leveraging proprietary technology and analytics, FastPay dynamically assesses the creditworthiness of borrowers and can issue working capital loans up to $100M+. Since its inception in 2009, FastPay has originated over $2B in loans and has access to hundreds of millions of dollars in deployable capital from partners including Citibank, Wells Fargo, and Hitachi. Its leadership team brings decades of credit and payments experience from Green Dot Corporation, Capital One, Morgan Stanley, Goldman Sachs, and Skrill. Headquartered in Los Angeles, FastPay has offices in San Francisco, New York, London, and Westborough, MA. For more information, please visit https://gofastpay.com.
AnchorOps is the only payment solution focused exclusively on the media industry. Founded by a former agency CFO/COO, AnchorOps streamlines media finance and operations so both agencies and suppliers benefit from workflow efficiency, increased visibility into bottlenecks, improved communication, and reduced manual input and errors. With a focus on media, AnchorOps enables its customers to make more money and drive more efficiency than any other provider. For more information, please visit: http://anchorops.com/